Infosys looks for new CEO as SD Shibulal to quit

Indian IT bellwether Infosys Ltd is on lookout for a new chief executive to succeed its incumbent and co-founder SD Shibulal, who wants to quit soon.

"The nominations committee of the board of directors has begun the search to select a successor to Shibulal, who expressed his desire to retire as the chief executive and managing director on the date of last board meeting or before his superannuation on Jan 9, 2015," the company said in a statement.

The board of directors is scheduled to meet on April 15 to approve the company's accounts for fiscal 2013-14 at its corporate headquarters in this tech hub.

"The committee will short list and evaluate an internal slate of candidates with the assistance of Development Dimensions International (DDI), a company specialising in corporate executive evaluations," the statement pointed out.

The board has also appointed Egon Zehnder, an executive search firm, to assist the committee in identifying an external slate of candidates.